BROIDO v. COMMISSIONER

Docket No. 66361.

36 T.C. 786 (1961)

LOUIS BROIDO AND LUCY KAUFMAN BROIDO, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.

United States Tax Court.

Filed July 31, 1961.


Attorney(s) appearing for the Case

Louis Broido and Sanford Becker, CPA, for the petitioners.

Victor H. Frank, Jr., Esq., for the respondent.


The respondent determined deficiencies in income tax against the petitioners for the taxable years 1949, 1950, and 1951 of $3,212.04, $7,366.55, and $1,645.16, respectively. The questions for decision are whether the petitioners are entitled to a casualty loss deduction for 1949, by reason of damage to residential property from drought, and, if so, the amount of the loss, and whether they are entitled to a nonbusiness bad debt deduction...

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